Ma Yun, known professionally as Jack Ma, was born on September 10, 1964. He is a Chinese business magnate, who is the founder and executive chairman of Alibaba Group, a family of successful Internet-based businesses.
Jack Ma struggled to attend college. As, the Chinese entrance exams are held only once a year and, thus it took him four years to pass the exam. Thereafter, Jack Ma went to Hangzhou Teacher’s Institute (currently known as Hangzhou Normal University) and graduated in 1988 with a B.A. in English.
After graduation, he became a lecturer of English and International Trade at Hangzhou Dianzi University. He later enrolled at Beijing-based Cheung Kong Graduate School of Business (CKGSB) and graduated in 2006.
Rejections, Rejections & Rejections !!
- Jack Ma applied for 30 different jobs and got rejected by all.
- He said in an interview that, “I went for a job with the police and they said, ‘you’re not good‘,“
- Jack Ma told interviewer Charlie Rose that, “He even went to KFC when it came to his city. Twenty-four people went for the job. Twenty-three were accepted. I was the only guy…”.
- And in addition, he applied 10 times for Harvard and got rejected.
A Journey To Success ..
Ma heard about the Internet in 1994. So he and his friend created an ugly website related to China. He launched the website at 9:40 AM and after 3-4 hours he had received emails from some Chinese wishing to know about him. This is when Ma realized that the Internet had something great to offer to the country. He, his wife and a friend started their first company with $20000, creating websites for other companies. And soon after 3 years, they made their revenue of about $800000.
In 1999, he and his team(18 friends) found Alibaba, a small business-to-business market place in Hangzhou. The program was expected to improve the domestic E-commerce market and perfect an E-commerce platform for Chinese enterprises. After a year or two, he founded Taobao Marketplace Alipay, Lynx and Ali Mama. Ebay offered to purchase the Alibaba co. However, Jack Ma rejected the offer. Alibaba became one of the most valuable tech companies in the world after raising $25 billion, the largest initial public offering in US financial history.
And this time, Jack Ma was invited by Harvard University to deliver a speech. On January 9, 2017, Jack Ma had a few words with United States President-elect Donald Trump at Trump Tower about how to create 1 million US jobs in five years.
Recent Achievements –
- In 2014, he was ranked as the 30th most powerful person in the world in an annual ranking published by Forbes.
- In 2015, Asian Award honored him with the Entrepreneur of the Year award.
- And In 2017, Fortune ranked Jack Ma second on its World’s 50 Greatest Leaders list.
Personal Life –
Jack Ma got married to Zhang Ying in the late 1980s. They have a son and a daughter. He learnt English with the help of some foreigners that use to come to a hotel near his house. He is solely the founder of China’s largest internet company and online shopping website.
Quote: ‘The biggest asset you have – you are young’
As you are young, this interview will surely help you to ‘how to become an entrepreneur?’.
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